Mention German KG (limited partnership) financing to some bankers and they will furrow their brows, cast down their eyes and slowly shake their heads.

For some, the country’s limited-partnership structure had much to do with why so few owners are now involved in the ship finance schemes following the defaults and collapses of the past decade.

But to hear Morten Arntzen tell it, that was not the reaction of Australian bank Macquarie when it first heard from KG owners three or four years ago.